- QLogic (QLGC +0.9%) discloses it launched a restructuring plan on Sep. 2. The number of job cuts involved hasn't been discloses; QLogic does say it expects $5M-$6M in pre-tax cash charges.
- The company stated on its July 30 FQ1 call it plans a restructuring that aims to lower its FY16 operating expenses to $200M. With Fibre Channel and (to a lesser extent) Ethernet product sales under pressure, QLogic is expected by the Street to see its revenue drop 14.7% Y/Y in FY16 to $443.7M.